Excise duty on petrol increased by Rs 10, on diesel by Rs 13 per litre, no effect on retail price
New Delhi, May 6, 2020: Crude (crude oil) prices have come down sharply in the international market but the general public is not going to benefit from it. The reason is that the state governments along with the Center are taking advantage of this situation to fill their treasure. Late on Tuesday, the central government announced a huge increase in special excise duty applicable to petrol by Rs 10 and diesel by Rs 13 per litre. The new rate of excise duty came into effect from midnight on Tuesday.
For the general public, the reward is that it will not affect the retail prices of petrol and diesel. However, just a few hours before this decision of the Center, the Government of Delhi and Punjab had decided to increase VAT rates on petrol and diesel, the burden of which would fall on the people of Delhi and Punjab.
According to the website of Indian Oil, now VAT on petrol has increased to Rs 16.44 per litre in Delhi. At the same time, VAT on diesel has been increased to Rs 16.26 per litre. In Delhi, VAT is now being charged at 30 per cent instead of 27 per cent on petrol and 16.75 per cent on diesel.
Crude prices are currently undergoing a sharp decline due to Coronavirus outbreak. In view of this, the prices of petrol and diesel have not changed in the country for a long time. Petrol, diesel prices have increased after 50 days in the capital Delhi. At present, the prices of petrol and diesel changes in the country on a daily basis. This change is based on the foreign exchange rate and crude oil prices.
“In Pune, the price of petrol is Rs 76.07 per litre while diesel is being sold for Rs 64.98 per litre today. There is no price change for last 46 days”, said Ali Daruwala, spokesperson, All India Petrol Dealers Association.
